News

SHREWSBURY, N.J. - Credit unions are converting to banks. Credit unions are competing with each other more than ever before. Credit unions are looking for non-interest income through new products and services that can be described as untraditional. What's going on? Is the credit union philosophy dying a slow death?...

MARLBOROUGH, Mass. - Carlo Cestra has made a career out of tapping credit unions' growth potential and, most recently turned around an ailing Digital Federal Credit Union. Cestra took on the challenge of turning a declining DCU into an efficient, nimble, and successful credit union. When he took over in...

ARLINGTON, Va. - Edinburgh Teachers CU wants to keep a high capital level to shield its members from eventual taxation. "We have deliberately sought a strong capital position because we consider that inevitably credit unions will be taxed," explained Jeff Moats, CEO of Edinburgh Teachers Credit Union, a $62 million...

PITTSBURGH, Pa. - Pittsburgh Teachers Federal Credit Union knew it had to update and modernize to survive. President and CEO Christine Chojnicki said the credit union has been around for 70 years. "We wanted to make sure the credit union was around for the next 70 years and if we...

PITTSBURGH - The $115 million U$X FCU which was started in 1938 for general office employees of U.S. Steel Corp. has always operated with large amounts of capital and president David R. Ackerman says it's been a good strategy to be "thrifty." The CU has been operating with 1% ROA...

TORONTO - Ethnic credit unions serve a special niche market wherever they operate. The Toronto area has nine such credit unions: Estonian Credit Union, Finnish Credit Osuuspankki Union, Parama Lithuanian Credit Union, Polish Alliance (Brant) Credit Union, Portuguese Canadian Credit Union, Slovenia Credit Union, Taiwanese Credit Union, Ukrainian Credit Union...